,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #dgdg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #ah1 #bjai,mr4
 ,cicill9e 7= himself1 ,ms4 ,s*ak[sky1  
,mr4 ,s]rano1 & ,ms4 ,jackson ,lee7     
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,education & ,labor  ,a
 ,,bill  ,to c>ry out an income-cont+5t 
repaym5t program = ,f$]al ,int]e/ ,free 
,education ,loans = und]graduate /ud5ts1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,mak+ ,college ,m 
,af=dable ,act4  #b4 ,direct ,f$]al     
,und]graduate ,loans & repaym5t plan    
7a7 ,int]e/ rates ,section #dee7;a7 ( ! 
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;e7a77 is am5d$ by add+  
at ! end ! foll[+3  7#d7 ,und]graduate  
loans on or aft] ! date ( enactm5t ( !  
,mak+ ,college ,m ,af=dable ,act  7,a7  
,9 g5]al ,not)/&+ any o!r provision (   
?is ,act1 a new borr[] on or aft] ! date
 ( enactm5t ( ! ,mak+ ,college ,m       
,af=dable ,act may only borr[ a ,f$]al  
,int]e/ ,free ,education ,loan = !      

und]graduate c\rse "w be+ pursu$ by su* 
borr[]4  7,b7 ,t]ms1 conditions1 &      
b5efits ,a ,f$]al ,int]e/ ,free         
,education ,loan %all h ! same t]ms &   
conditions1 & b5efits to borr[]s z      
,f$]al ,direct ,/af=d ,loans ) respect  
to und]graduate borr[]s1 except t--  7i7
 a ,f$]al ,int]e/ ,free ,education ,loan
 %all h an applicable rate ( int]e/ (   
#c4gf p]c5t = ! t]m ( ! loan2  7ii7 !   
aggregate maximum am\nt ( ,f$]al ,int]e/
 ,free ,education ,loan t may be aw>d$  
to a borr[] %all be #ij1jjj1 = n m ?an a
 #d-ye> academic p]iod2  7iii7 int]e/ on
 a ,f$]al ,int]e/ ,free ,education ,loan
 %all only accrue dur+ p]iods :5 a      
borr[] is n e>n+ taxable income due to  
pr(essional neglig5ce1 pr(essional      
incompet5ce1 or malici\s action on ! "p 
( ! borr[]2  7iv7 a borr[] may          
consolidate any loan "u section #dbh;,b1
 or a ,f$]al ,direct ,,plus ,loan1 t is 
made1 insur$1 or gu>ante$ on behalf (   
su* borr[] ) ! ,f$]al ,int]e/ ,free     
,education ,loan ( su* borr[]2  7v7 a   

,f$]al ,int]e/ ,free ,education ,loan   
may only be repaid "u ! income-cont+5t  
repaym5t plan "u subsection 7r72 &  7vi7
 ! ,secret>y may det]m9e o!r t]ms &     
conditions1 & b5efits to borr[]s (      
,f$]al ,int]e/ ,free ,education ,loan4  
4  7b7 ,income-,cont+5t repaym5t plan = 
und]graduate loans ,section #dee ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;e7 is fur!r am5d$ by    
add+ at ! end ! foll[+3  7r7            
,income-,cont+5t repaym5t plan =        
und]graduate loans ,not)/&+ any o!r     
provision ( ?is ,act1 ! ,secret>y %all  
c>ry out a program "u :i*--  7#a7 a     
borr[] ( a ,f$]al ,int]e/ ,free         
,education ,loan-- 7,a7 %all h an       
aggregate mon?ly paym5t = ! out/&+      
balance ( pr9cipal & int]e/ due on all  
su* loans automatically )held f !       
pre-tax income ( ! borr[] by ! employ] (
 ! borr[] 9 a mann] :i*--  7i7 prohibits
 employ]s f us+ any in=mation ab\t an   
employee's out/&+ balance or pr9cipal & 
int]e/ due on su* loans = any purpose ( 

use z an advantage aga9/ ! employee2    
7ii7 is det]m9$ by ! ,secret>y1 9       
coord9ation ) ! heads ( o!r appropriate 
,f$]al ag5cies 7includ+ ! ,secret>y ( ! 
,treasury & ! ,commission] ( ! ,social  
,security ,adm9i/ration72 &  7iii7 is an
 am\nt equal to-- 7,i7 if ! borr[]'s    
gross income is less ?an #ccg p]c5t ( ! 
pov]ty l9e applicable to ! borr[]'s     
family size z det]m9$ "u section #fgc7b7
 ( ! ,community ,s]vices ,block ,grant  
,act 7#db ,u4,s4,c4 #iijb7b771 #j2      
7,,ii7 if ! borr[]'s gross income is    
equal to or great] ?an #ccg p]c5t1 b n m
 ?an #hda p]c5t ( su* pov]ty l9e1 #d    
p]c5t ( ! borr[]'s gross income2        
7,,iii7 if ! borr[]'s gross income is   
equal to or great] ?an #hdb p]c5t1 b n m
 ?an #ibe p]c5t ( su* pov]ty l9e1 #e    
p]c5t ( ! borr[]'s gross income2  7,,iv7
 if ! borr[]'s gross income is equal to 
or great] ?an #ibf p]c5t1 b n m ?an     
#a1jaj p]c5t ( su* pov]ty l9e1 #f p]c5t 
( ! borr[]'s gross income2  7,v7 if !   
borr[]'s gross income is equal to or    

great] ?an #a1jaa p]c5t1 b n m ?an      
#a1jid p]c5t ( su* pov]ty l9e1 #g p]c5t 
( ! borr[]'s gross income2  7,,vi7 if ! 
borr[]'s gross income is equal to or    
great] ?an #a1jie p]c5t1 b n m ?an      
#a1agh p]c5t ( su* pov]ty l9e1 #h p]c5t 
( ! borr[]'s gross income2  7,,vii7 if !
 borr[]'s gross income is equal to or   
great] ?an #a1agi p]c5t1 & #a1bfb p]c5t 
( su* pov]ty l9e1 #i p]c5t ( ! borr[]'s 
gross income2 &  7,,viii7 if ! borr[]'s 
gross income is equal to or great] ?an  
#a1bfc p]c5t ( su* pov]ty l9e1 #aj p]c5t
 ( ! borr[]'s gross income2 &  7,b7 may 
elect to h any paym5ts made "u          
subp>agraph 7,a7 t exce$ ! am\nt ow$ by 
! borr[] on su* loans = a cal5d> ye> be 
refund$ to ! borr[] or appli$ to ! am\nt
 ow$ by ! borr[] on su* loans = !       
succe$+ cal5d> ye>2  7#b7 ! ,secret>y w 
cancel any out/&+ balance ( pr9cipal or 
int]e/ due on all ,f$]al ,int]e/ ,free  
,education ,loans made to a borr[] :o   
has made #cjj mon?ly paym5ts "u ?is     
subsection2 &  7#c7 a borr[] w be tax$  

on ! am\nt cancell$ "u p>agraph 7#b71   
:i* taxes %all be appli$ to c>ry out !  
,f$]al ,direct ,loan program "u ?is "p4 
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